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    990 N Germantown Pkwy, Unit 102 Cordova, TN 38018
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    Property profile & analytics

    990 N Germantown Pkwy, Unit 102 Cordova, TN 38018

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    • Strip malls
    • 10,246 SF
    • 0.99 lot acres
    For Lease
    $5,880/Mo
    View Listing →
    Prime Commercial Location Available Soon For Lease
    $5,880/Mo
    4,480 SF

    Prime Commercial Location Available Soon

    Spacious retail space available September 1, 2024, near Germantown Parkway.

    990 N Germantown Pkwy Ste 102, Cordova, TN 38018
    View Listing
    Property ID
    US80-0476389
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,590,000
    Cap Rate Potential
    8.8%
    Strip malls
    Location Intelligence

    Current Use by Public Records

    • AAA Memphis / Travel Agency
    • Green Bamboo Noodle House / Restaurant
    • Faith Automotive Services LLC / Auto Repair Shop

    Property Details for 990 N Germantown Pkwy

    Year built
    2003
    Lot size
    0.99 lot acres
    Property size
    10,246 SF
    Zone code
    CA
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    091-025- - -00025
    APU
    9102500025

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,370,000
      ML approach
      $1,380,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,010,000
      6.5%
      $1,855,000
      7%
      $1,725,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,633,000
      Market price range: $887k - $2.59M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,665,000
      Current use
      MEDICAL BUILDING
      $1,515,000
      Change: -9% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cordova
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.7946
    Latitude
    35.1522
    CBSA code
    32820
    CBSA name
    MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $28,709
    $259,280
    $212,000
    $471,280
    -
    $648,200
    $530,000
    $1,178,200

    Comparable in this City

    • Value Estimation
      $1,925,000
      14,620 SF

      1079 Houston Levee Rd

      SHOPPING CENTER, STRIP CENTER • 14,620 SF
      1079 Houston Levee Rd, Cordova, TN 38018-6793
      View Details
    • Value Estimation
      $6,660,000
      81,798 SF

      676 Germantown Pkwy

      SHOPPING CENTER, STRIP CENTER • 81,798 SF
      676 Germantown Pkwy, Cordova, TN 38018-6210
      View Details
    • Value Estimation
      $2,840,000
      15,100 SF

      584 Germantown Pkwy

      SHOPPING CENTER, STRIP CENTER • 15,100 SF
      584 Germantown Pkwy, Cordova, TN 38018-5211
      View Details
    • Value Estimation
      $2,710,000
      20,400 SF

      1105 Houston Levee Rd

      SHOPPING CENTER, STRIP CENTER • 20,400 SF
      1105 Houston Levee Rd, Cordova, TN 38018-3620
      View Details
    • Value Estimation
      $2,230,000
      21,832 SF

      1204 Houston Levee Rd

      SHOPPING CENTER, STRIP CENTER • 21,832 SF
      1204 Houston Levee Rd, Cordova, TN 38018-6687
      View Details
    • Value Estimation
      $1,945,000
      19,153 SF

      1144 Houston Levee Rd

      SHOPPING CENTER, STRIP CENTER • 19,153 SF
      1144 Houston Levee Rd, Cordova, TN 38018-7145
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Premium Retail Center For Sale

      22,000 SF retail center in a bustling Cordova location.
      465 North Germantown Pkwy, Memphis, TN 38018
      View Details
    • Contact for pricing

      Mixed-Use Center in Strong Corridor

      Established mixed-use center with upside in a prime location.
      7990 Trinity Rd, Cordova, TN 38018
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      Cordova Development Opportunity For Sale

      New development with retail and residential opportunities in Cordova, Tennessee.
      Swc Walnut Grv Rd & Houston Levee Rd, Cordova, TN 38018
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    • Contact for pricing

      Walmart Shadow Shopping Center

      47,939 SF shopping center at Germantown Parkway and Trinity Road.
      7990 Trinity Rd, Cordova, TN 38018
      View Details
    • Contact for pricing
      6,429 SF

      Cordova Commercial Land Opportunity

      4.72 acres of commercial land with existing leased buildings.
      8556 Macon Rd, Cordova, TN 38018
      View Details
    • $700,000

      Retail Property Near Kroger

      Retail property for sale in prime location near Kroger.
      8079 Trinity Rd, Cordova, TN 38018
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    Similar Nearby for Lease

    • Contact for pricing

      Cordova Retail and Office Space

      Neighborhood shops and Class A office space for lease.
      815 Exocet Dr, Memphis, TN 38018
      View Details
    • Contact for pricing

      Cordova Retail Space Available Now

      Retail space in Germantown Station, Cordova, available for rent.
      750 N Germantown Pkwy, Memphis, TN 38018
      View Details
    • $5,880 /Mo

      Prime Commercial Location Available Soon

      Spacious retail space available September 1, 2024, near Germantown Parkway.
      990 N Germantown Pkwy, Cordova, TN 38018
      View Details
    • Contact for pricing
      1,500 SF

      Restaurant/Retail Space Near Germantown Parkway

      Former restaurant space available for lease near Germantown Parkway.
      8095 Macon Rd, Cordova, TN 38018
      View Details
    • $28 SF/Yr
      20,427 SF

      Restaurant Space For Lease

      2,996 SF restaurant space available on Germantown Parkway.
      420 S Germantown Rd, Cordova, TN 38018
      View Details
    • Contact for pricing

      Turn-Key Retail/Café Space Available

      Vibrant 3,000 SF space ideal for retail or café.
      8100 Macon Station Dr, Memphis, TN 38018
      View Details
    View Listing
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    Cordova, TN 38018
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    990 N Germantown Pkwy, Cordova, TN, 38018
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